Changes to Medicare Part D Coverage in 2024 & 2025
MN Health Staff Writer | April 3, 2024The Inflation Reduction Act of 2022 includes changes to the Part D prescription drug costs for people with Medicare. The Act will include a number of changes to the Medicare Part D drug benefit. These changes include a cap on out-of-pocket drug spending for enrollees in Medicare Part D plans and requiring Part D plans and drug manufacturers to pay a greater share of costs for Part D enrollees with high drug costs. This explanation below provides an overview of the Part D benefit design as it is now in 2023 and changes coming in 2024 and 2025.
Medicare Advantage vs. Medicare Cost: What Are The Numbers?
MN Health Staff Writer | June 15, 2015Medicare is the federal health insurance program for people who are age 65 and older, and for certain individuals with disabilities. Medicare Part A covers inpatient hospital stays, while Part B covers doctor services. Medicare Part C refers to Medicare Advantage plans offered by private companies, and Medicare Part D offers prescription drug coverage. Medicare beneficiaries can stay in the traditional federal program, and purchase supplemental policies from insurance carriers. In some parts of the country, older adults have the option to enroll in Medicare Cost plans offered by private companies
It’s Here Again! 2015 Annual Open Enrollment Period for Medicare
admin | October 10, 2014It’s that time again. Every year, Medicare has an open enrollment period when Medicare beneficiaries may apply for a new Medicare plan, or change the Medicare coverage that they currently have. This enrollment period is from October 15 through December 7, with plans becoming effective on January 1. Sorting through the different Medicare products like Medicare Supplement Plans, Medigap Plans, Medicare Select Plans, Medicare Advantage Plans, Medicare Cost Plans, or Medicare Prescription Drug Plans, can be a daunting task. Working with a broker like MN Health Insurance Network can be extremely beneficial in helping you choose the right Medicare plan for you based on your specific needs.